S&P Confirms Bank Austria´s Rating

Businessn.a. ♦ Published: August 8, 2012; 19:23 ♦ (Vindobona)

Due to the downgrade of the holding company UniCredit, the U.S. rating agency retains the negative outlook for Bank Austria.

S&P Confirms Bank Austria´s Rating / Picture: © Wikipedia / Magnus Manske

S&P confirmed the long-term rating “A” for Bank Austria as well as the short-term rating “A-1”. However, the outlook is negative, S&P announces. The negative outlooks was justified with the creditworthiness of Austria (AA+) and of the Italian holding company UniCredit. At the moment, UniCredit´s rating is “BBB+”.

Furthermore, the rating for Bank Austria´s…